New Issue: India’s PNB plans Rs. 10 billion of 7.55% three-, 7.63% 3.5-year bonds

By Susanna Moon

Chicago, June 13 – PNB Housing Finance Ltd. plans to issue Rs. 5 billion of 7.55% secured redeemable bonds due June 15, 2020 and Rs. 5 billion of 7.63% secured redeemable bonds due Dec. 15, 2020.

The series 34 bonds will be issued at par of Rs. 1 million each by way of private placement under two different options, according to a company notice to the Bombay Stock Exchange.

PNB is a New Delhi-based housing loan company.

Issuer:	PNB Housing Finance Ltd.
Issue:	Secured redeemable bonds in the form of promissory notes
Amount:	Rs. 10 billion
Settlement date:	June 15
Put/call option:	At par on June 15, 2019 for the 7.55% notes
Ratings:	CARE: AAA
	India Ratings: AAA
Listing:	Wholesale Debt Market segment of the National Stock Exchange of India Ltd.
Option A bonds
Amount:	Rs. 5 billion
Maturity:	June 15, 2020
Coupon:	7.55%
Put/call option:	At par on June 15, 2019
Option B bonds
Amount:	Rs. 5 billion
Maturity:	Dec. 15, 2020
Coupon:	7.63%
Put/call option:	None

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